Deep space exploration

Deep space exploration and technology market size will reach USD 630.23 billion in 2028

VANCOUVER, BC, May 12, 2022 /PRNewswire/ — The deep space exploration and technology market size should reach $630.23 billion in 2028 and register a CAGR of 7.3% over the forecast period, according to recent analysis by Emergen Research. The steady growth in market revenue can be attributed to the growing number of missions planned by various space agencies and increasing funding from private and government space agencies in deep space exploration missions and space related programs. ‘space.

Deep space exploration has led to the development of newer technologies integrated with deep learning and artificial intelligence (AI) capabilities. More advanced equipment and systems such as heavy-lift launchers, human and robotic services, and autonomous space operations are under development and testing and such initiatives are expected to continue to support the market revenue growth during the forecast period.

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Publicly funded space exploration has resulted in the development and design of more reliable and efficient spacecraft and propulsion systems, which reduce the risk of system failure and increase mission success rates. These investments have enabled the development of viable habitats in orbit around the Earth, the success of missions aimed at making space tourism a reality, as well as the monitoring and exploration of the potential for exploitation of asteroids in space.

Private companies are increasingly involved in the space exploration sector, and the number of partnerships between government and private space agencies and contracts and subcontracts – including for the purchase of various ancillary parts and small equipment , software development and robotic gadgets – have increased in the recent past. Companies such as Amazon and SpaceX have plans to colonize Earth’s Moon and Mars respectively. At the same time, continued space tourism is expected to increase spacecraft manufacturing and production and make space missions cheaper in the near future.

The artificial satellite segment accounted for the largest revenue share in the global market in 2021 owing to high demand for low-Earth orbit and Earth observation imagery services, and increasing number of exploration missions spatial. The need for high-resolution Earth imagery has increased across all verticals for a variety of purposes, including agricultural field monitoring, climate change detection, meteorology, and disaster mitigation. The US government is the largest buyer of satellite imagery, and US-based private companies and companies based in other countries have increased their investments in the satellite sector.

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Some key highlights of the report

  • On December 15, 2020, Thales Alenia Space and Telespazio have signed a contract for two additional second-generation cosmo-skymed satellites. The two new satellites built by Thales Alenia Space would ensure the completion of the constellation and the full operational capability of SAR (Synthetic Aperture Radar) observation services.
  • On September 25, 2019Spacebit, which is a UK-based company, has signed an agreement with Astrobotic to begin commercial and scientific lunar exploration with its first mission in 2021 on the Peregrine lunar lander and to mark the start of a new era in commercial space exploration Britain.
  • Asia Pacific The market is expected to register the fastest revenue CAGR among the regional markets during the forecast period due to the rapid increase in industrial, technological and economic initiatives in the countries of the region. india The space program has attracted worldwide attention for its increased development and extraordinary explorations, such as Mars Orbiter Mission, Chandrayaan-2 Mission, AstroSat Mission, and Aditya-L1 Mission. With the advanced technologies and ambitious missions of ISRO, the possibilities of contributing to operational missions and satellite navigations are greater.
  • Some major companies in the global deep space exploration and technology market report include Airbus Defense & Space, Lockheed Martin Corporation, The Boeing Company, SpaceX, Blue Origin, Northrop Grumman Corporation, Thales Alenia Space, Astrobotic , MAXAR Technologies, Inc. and Sierra. Nevada Company.

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Emergen Research has segmented the world Deep Space Exploration and Technology Market Based on Technology Mode, Application, Subsystem, Mission Type, End Use and Region:

  • Tech Mode Outlook (Revenue, USD Billion; 2021-2028)
    • Rockets
    • Landers
    • robots
    • Satellites
    • Orbiters
  • Application Outlook (Revenue, USD Billion; 2019-2028)
    • Exploration of the Moon
    • Transportation
    • Orbital infrastructure
    • Mars exploration
  • Subsystem Outlook (Revenue, USD Billion; 2019-2028)
    • drive system
      a. Chemical
      b. Non chemical
    • Navigation and guidance system
    • Command and control system
    • Others
  • Mission Type Outlook (Revenue, USD Billion; 2019-2028)
    • Manned mission
    • Unmanned mission
  • End-Use Outlook (Revenue, USD Billion; 2019-2028)
    • Government space agencies
    • Commercial
    • Military

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  • Regional Outlook (Revenue, USD Billion; 2019-2028)
    • North America
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Spain
      • BENELUX
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of APAC
    • Latin America
    • Middle East & Africa
      • Saudi Arabia
      • United Arab Emirates
      • Israel
      • South Africa
      • Turkey
      • Rest of MEA

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